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Gazprom One Step Away From Stopping Gas Flow

RUSSIA
  • Vedomosti cites figures from the Federal Tax Service as showing that gas exports across June dropped by 40% in RUB terms, with oil exports dropping 10% over the same period.
  • On yesterday’s gas flow news, Kommersant today write that Gazprom are one step away from a complete shutdown of gas supplies via the Nord Stream pipeline. They cite the flow being reduced to 20% capacity as of tomorrow.
  • Izvestia write that Russian banks are now limiting the opening of accounts and deposits in FX across the country. The piece writes that after attempts to introduce commissions and fees, banks are now limiting activity in FX accounts as they can’t guarantee risk-free investments in USD and EUR terms.
  • In a further sign of cooperation between the two countries, SCMP confirm that China are to send troops and tanks to Russia ahead of military games due next month. The symbolic games include 12 other countries, and show the continued implied endorsement of Russian activities by China.
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